5 Trade Ideas for Monday: Aflac, Amazon, Antero, Prudential and Tesla

• Posted by Greg Harmon
• on December 17th, 2023

5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:

Aflac, Ticker: $AFL

Aflac, $AFL, comes into the week pulling back to the 50 day SMA. It has a RSI falling and a MACD dropping but positive. Look for a reversal to participate…..

Amazon, Ticker: $AMZN

Amazon, $AMZN, comes into the week breaking short term resistance. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…..

Antero Resources, Ticker: $AR

Antero Resources, $AR, comes into the week rising off a low. It has a RSI moving higher with the MACD about to cross up. Look for continuation to participate…..

Prudential Financial, Ticker: $PRU

Prudential Financial, $PRU, comes into the week pulling back from a top. it has a RSI that is overbought with the MACD positive. look for continuation to participate…..

Tesla, Ticker: $TSLA

Tesla, $TSLA, comes into the week pressing at resistance. It has a RSI in the bullish zone with the MACD positive. Look for a move higher to participate…..

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After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which with the December FOMC meeting and Quadruple Witching in the books, saw equity markets post another stellar week as they head into the last full week of the year.

Elsewhere look for Gold to continue higher while Crude Oil continues to trend lower. The US Dollar Index continues to drift to the downside while US Treasuries continue in their short term uptrend. The Shanghai Composite looks to continue the trend lower while Emerging Markets possibly break resistance to the upside.

The Volatility Index looks to remain very low and stable making the path easier for equity markets to the upside. Their charts look strong, especially the SPY and QQQ on the longer timeframe. On the shorter timeframe the IWM, QQQ and SPY could use a reset on momentum measures as all are extended. Use this information as you prepare for the coming week and trad’em well.

If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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